Indiana Trust & Investment Management Co Purchases Shares of 1,085 Upstart Holdings, Inc. (NASDAQ:UPST)

Indiana Trust & Investment Management Co acquired a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,085 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of Upstart by 1,792.9% during the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after acquiring an additional 277,896 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Upstart by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after buying an additional 157,719 shares in the last quarter. Seven Eight Capital LP raised its position in shares of Upstart by 349.1% during the 1st quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after buying an additional 147,213 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Upstart by 442.1% during the 2nd quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after buying an additional 120,871 shares in the last quarter. Finally, Magnetar Financial LLC grew its position in Upstart by 1,106.7% in the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after acquiring an additional 89,219 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Trading Up 2.8 %

NASDAQ UPST opened at $54.38 on Thursday. Upstart Holdings, Inc. has a 12 month low of $19.84 and a 12 month high of $57.40. The company’s 50-day moving average price is $39.94 and its 200-day moving average price is $30.04. The stock has a market cap of $4.87 billion, a PE ratio of -23.24 and a beta of 2.01.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The business had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company posted ($0.34) earnings per share. As a group, sell-side analysts forecast that Upstart Holdings, Inc. will post -2.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wedbush upgraded Upstart from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $45.00 in a research report on Monday. Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Barclays lifted their price objective on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Mizuho increased their target price on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.50.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,264 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the sale, the insider now directly owns 24,557 shares in the company, valued at approximately $942,006.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $26.31, for a total value of $26,310.00. Following the completion of the sale, the chief financial officer now owns 372,398 shares in the company, valued at approximately $9,797,791.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,264 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total transaction of $48,487.04. Following the completion of the sale, the insider now directly owns 24,557 shares of the company’s stock, valued at $942,006.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,959 shares of company stock worth $13,641,350 in the last ninety days. 18.06% of the stock is owned by company insiders.

Upstart Profile

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.